The free movement of people within the EU implies that individuals are confronted with unfamiliar policies and institutions. Can we expect them to adjust to these new sets of rules? In this Vox Views video, Michael Haliassos discusses his research on the role of cultural predispositions in household financial behaviour and the implications for the harmonisation of institutions across European countries. The video was recorded in April 2016 at the First Annual Spring Symposium on Financial Economics organised by CEPR and the Brevan Howard Centre at Imperial College.